Gap to the upside on fake news yesterday and gap to the upside on the same fake news today. The White House never spoke to China.

But we don care when we scan…we do not rationalize. Two gaps get a bunch of Friday back but major indices remain range-bound with the average stock much worse as the small, mid and the transports act terrible, not to mention foreign markets.

But also do not forget…easier money on the way.

Traveling today. Bigger report before the open tomorrow. Today and tomorrow, special 2 part radio show…listen at 606 pm et or archived soon after…2 parts on how bear markets start and how they play out. Of course, never ever going to have areal bear market again.